Office-supply retailers Staples Inc. on Thursday said it will offer a post-acceptance period to allow holders of securities of Dutch office supply company Corporate Express to tender their securities after the tender offer ended.
Corporate Express agreed to a $2.7 billion acquisition deal, at 9.25 euros per ordinary share, on June 11.
Framingham, Mass.-based Staples expects to settle the offer July 9.
So far, 95.2 percent of ordinary shares, 99.7 percent of preference shares A and 99.1 percent of bonds have been tendered.
The post-acceptance period starts Thursday and expires July 16. The companies said such a period is customary in the Netherlands.
Staples and Corporate Express said they will terminate the listing of ordinary and preference shares on Euronext Amsterdam and the listing of American depositary shares on the New York Stock Exchange, which will "adversely affect" the liquidity of any securities not tendered.
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